National Express has called in Goldman Sachs to advise it in the fight against
its biggest shareholder, Elliott Advisors.

The bus and rail group has signed up the Goldman team advising Actelion, the
Swiss bio-pharmaceutical group that is also under attack from the US hedge
fund. It is thought Goldman is helping to find candidates to go up against
the three that Elliott, which owns 17.5% of National, wants to put on the
board at next month’s annual meeting.

Pimco snub for eurozone

Pimco, the world’s biggest bond fund manager, has launched a fresh attack on
the financial health of the eurozone, saying some member states “appear
insolvent”.

“Europe has neither the will nor the wallet to support all member states,”
wrote Andrew Bosomworth, the fund’s executive vice-president.

He added: “Pimco plans to continue to avoid allocating capital to the small
peripheral eurozone countries.”